India rubber falls to 2-mth low on hopes of import tax cut


MUMBAI, Aug 3 (Reuters) - Rubber price in India's key spot market fell by 3.3 percent to lowest level in nearly two months on hopes government will cut import tax on natural rubber, three dealers told Reuters. Presently, India charges 20 percent tax on natural rubber imports. The spot price of the most traded RSS-4 rubber (ribbed smoked sheet) dropped by 600 rupees to 17,400 rupees per 100 kg in Kottayam, Kerala, on Friday, Rubber Board data showed. It hit a record high of 18,600 ...

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